Which of the following makes invention and entrepreneurship more likely in today's economy?
a. increasing morality of inventors
b. government rules within society
c. positive marginal costs
d. positive marginal revenues
b
You might also like to view...
Suppose that you and two friends have an opportunity to purchase a pizza restaurant. Each of you would put up $75,000 . The revenue from the restaurant is expected to remain $200,000 per year for the next several years
The costs (not including the opportunity costs of your investment) of operating the restaurant are expected to remain steady at $185,000 for the next several years. The current market rate of interest is 7 percent per year. Should you go in on this deal? Explain.
The legal reserve requirement is the
a. actual amount of reserves that banks must hold b. excess amount of reserves that a bank must hold c. minimum amount of reserves the Fed requires a bank to hold d. total amount of reserves that banks hold at all times e. maximum amount of reserves that banks can hold to remain liquid
What fiscal policies did the government implement in response to the 2008-2009 recession? Can we be certain that these policies were effective? Explain
Which of the following represents the key difference between the short run and the long run?
A. In the long run, the firm makes commitments to a certain type of production technology which are represented as fixed costs in the long run. For example, they have signed a lease on a particular production facility. These fixed costs do not exist in the short run. B. In the short run, the firm makes commitments to a certain type of production technology, which are represented as fixed costs in the short run. For example, they have signed a lease on a particular production facility. These fixed costs do not exist in the long run. C. The short run refers to less than two years and the long run is over two years. D. In the short run, all costs are fixed but in the long run, capital costs are variable.